Why is Ola Electric falling/rising?

As of 05-Aug, Ola Electric Mobility Ltd's stock is currently priced at Rs 40.87, reflecting a slight increase of 0.01 (0.02%). The stock has been gaining for the last two days, with a total return of 0.79% during this period. However, it is important to note that the stock is underperforming its sector by 0.48% today and is trading below all key moving averages, indicating a bearish trend. Additionally, the stock is close to its 52-week low, being only 3.16% away from Rs 39.58. The company has faced significant challenges, including operating losses and a weak long-term fundamental strength, with a negative EBITDA and a declining net sales figure. Despite a recent increase in institutional investor participation, which has risen by 1.51% over the previous quarter, the overall sentiment remains cautious due to the company's negative financial results over the last four quarters.
In the broader market context, Ola Electric's short-term performance has been relatively weak, with a 1-week return of -2.06%, compared to a -0.77% decline in the Sensex, indicating that the stock is underperforming the benchmark index. Over the past month, the stock has also declined by 2.08%, while the Sensex has decreased by 3.26%. This suggests that while the stock is experiencing a minor uptick recently, its overall trajectory remains downward, compounded by poor financial fundamentals and a lack of investor confidence. The significant drop in delivery volume and the company's inability to generate positive earnings further contribute to the negative outlook surrounding the stock.